Asia: Wood Box Market 2023

Wood Box Market Size in Asia

The Asian wood box market dropped to $X in 2021, shrinking by -7.2% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +78.2% against 2013 indices. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Wood Box Production in Asia

In value terms, wood box production declined to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +78.2% against 2013 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 17%. As a result, production attained the peak level of $X, and then dropped in the following year.

Wood Box Exports

Exports in Asia

In 2021, shipments abroad of cases, boxes, crates, drums and similar packings of wood was finally on the rise to reach X units after three years of decline. In general, exports, however, saw a perceptible slump. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, wood box exports soared to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of cases, boxes, crates, drums and similar packings of wood, namely China, India and Bahrain, represented more than half of total export. Turkey (X units) ranks next in terms of the total exports with an 11% share, followed by Hong Kong SAR (11%). The following exporters - Vietnam (X units) and Malaysia (X units) - each accounted for a 6.1% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Malaysia (with a CAGR of +13.9%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest wood box supplier in Asia, comprising 33% of total exports. The second position in the ranking was held by Bahrain ($X), with a 13% share of total exports. It was followed by Turkey, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: Bahrain (+0.9% per year) and Turkey (-1.6% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, growing by 1.7% against the previous year. Export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood box export price increased by +103.6% against 2017 indices. The pace of growth was the most pronounced in 2018 an increase of 82%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.1%), while the other leaders experienced more modest paces of growth.

Wood Box Imports

Imports in Asia

Wood box imports stood at X units in 2021, increasing by 14% compared with 2020 figures. Overall, imports, however, saw a mild slump. The most prominent rate of growth was recorded in 2013 with an increase of 16% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, wood box imports rose remarkably to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 20%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

South Korea was the largest importer of cases, boxes, crates, drums and similar packings of wood in Asia, with the volume of imports amounting to X units, which was approx. 31% of total imports in 2021. Hong Kong SAR (X units) took the second position in the ranking, followed by Oman (X units), Kazakhstan (X units), Singapore (X units), Japan (X units) and Malaysia (X units). All these countries together held approx. 41% share of total imports. Turkey (X units), Israel (X units), Indonesia (X units), the United Arab Emirates (X units), Azerbaijan (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to wood box imports into South Korea stood at +9.1%. At the same time, Azerbaijan (+25.0%), Indonesia (+19.4%), Kazakhstan (+13.8%), Singapore (+13.8%), Israel (+7.4%), Malaysia (+6.5%), Turkey (+4.4%) and the United Arab Emirates (+1.8%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in Asia, with a CAGR of +25.0% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Oman (-1.9%), Japan (-3.2%) and Hong Kong SAR (-10.1%) illustrated a downward trend over the same period. South Korea (+18 p.p.), Kazakhstan (+5.6 p.p.), Singapore (+4.7 p.p.), Israel (+2.2 p.p.), Malaysia (+2.2 p.p.), Indonesia (+2.2 p.p.), Azerbaijan (+2.1 p.p.) and Turkey (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -12.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported cases, boxes, crates, drums and similar packings of wood in Asia, comprising 35% of total imports. The second position in the ranking was held by Japan ($X), with a 14% share of total imports. It was followed by Singapore, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value in South Korea stood at +20.8%. In the other countries, the average annual rates were as follows: Japan (+1.7% per year) and Singapore (+11.4% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, standing approx. at the previous year. Import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood box import price increased by +46.9% against 2018 indices. The growth pace was the most rapid in 2019 when the import price increased by 32% against the previous year. The level of import peaked at $X per unit in 2020, and then dropped modestly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per unit), while Kazakhstan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+18.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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